Lawmakers in Washington have one week to resolve differences in regards to the potential fiscal cliff. Senator Roy Blunt shared his thoughts on the issue last Thursday.
“I saw a sign on the senate floor one day last week,” said Blunt,” The sign was on the democrat side and said 19 days until middle-class American families get $2200 tax increase. This would be a bad thing for those families and a bad thing for our economy.”
Missouri House Representative Mike Lair explains if talks fail, both Missouri residents and the state as a whole will suffer.
“When the Regan tax cuts were set to expire, they were bumped on forward through 2012,” said Lair,” If they expire now, the amount of money the federal government takes from citizens from the state of Missouri is affecting our income tax. The more money the federal government gets, the less money Missouri gets.”
Negotiations are expected to continue on the 27th of December when the President and Congress return to Washington.